YEIDA introduces OTS policy during 75th board meeting

Update: 2022-12-02 18:56 GMT

noida: The Yamuna Expressway Industrial Development Authority (YEIDA) has introduced an One Time Settlement (OTS) policy which is expected to benefit it's over eight hundred allottees under various group housing and other schemes. Officials said that this will help generate revenue worth Rs 140 crore against the applications

received.

It was informed during YEIDA's 75th board meeting which took place on Friday. "A total of 843 applications were received under the OTS scheme till November 30, 2022 which have been approved. This will provide an interest waiver to the allottees and the defaulting amount will be paid in a single instalment," Arun Vir Singh, Chief Executive Officer (CEO), YEIDA said.

The CEO further said that the authority has received about 19% more revenue in the three quarters so far this year as compared to the last financial year, thus increasing the income of authority.

"In the financial year 2021-22 till November 24, 2021, the total revenue received was Rs 1,136.09 crore while the total income of authority in the current financial year 2022-23 up to November 24, 2022 is

Rs 1349.81 crore. This is 18.81% more than the same period of the previous financial year," Singh

added.

The meeting was chaired by Additional Chief Secretary (Industrial Development) Arvind Kumar who is also the chairman of Yamuna Expressway authority. CEO Arun Vir Singh, Officer on Special Duty (OSD) Shailendra Bhatia and other senior officials were present in the meeting.

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